A new rung on the Birmingham property ladder

Thu, Feb 2nd 2006, 11:00

Thirsty first time buyers in Birmingham who previously thought they had no chance are finally on the property ladder – and others now have the opportunity to follow them.

When house builder Redrow launched its innovative Debut range of affordable properties at Reed Square, Castle Vale - with starting prices from only £59,995* - the first phase of 30 homes sold out in just 48 hours!

Now more young 20 and 30-somethings are lining up to be among the lucky ones to secure a home in the next release of properties, on sale from February 18th.

Among those who snapped up one of the very first homes is Fiona Cox, a 30-year-old, who brought her dad along to witness the momentous occasion when she bought her one-bedroom ‘Debut Three’ property. She’s been living with her parents in Hall Green, convinced she had no other option.

At 30, the clerical officer is four years younger than what’s reported to be the average age of today’s first time buyer. Many people have to wait much longer to buy a home of their own, thanks to rising house prices that have surged ahead of salary increases over the last five years.

Fiona comments: “I am really surprised to hear that 34 is the average age – I thought I was in the minority, but obviously not. “I’ve been eagerly following Debut since I heard about it on the news last year. I was relieved to hear Redrow would be building them in an area I’d consider living in – without it I’d have to stay where I am or rent somewhere.”

Fiona’s new home is a one-bedroom two storey property that has its main living area upstairs, with the bedroom and bathroom on entry level which, she says is ‘perfect for someone living on their own like me’.

She’s also taken advantage of two move-in packages that are offered by Redrow. “I’ve bought the white goods package, including washing machine and fridge freezer, plus carpets and curtains for my new home – it means I can virtually move in and start living straight away,” adds Fiona.

With a Debut home, budgeting should be effortless, as gas and electricity are combined in one monthly charge, so that homes owners know where they stand. Fiona continues: “It’ll be great to know exactly how much money I’ve got to spend each month.”

Also buying his own home at the launch was Craig O’Toole, who along with his partner has chosen a ‘Debut Two’ one-bedroom apartment. The 24-year-old chef says: “I’m currently renting and when I started looking for at buying a place of my own on the internet I found out all about Debut.

“Externally they look different – my first impressions were that they look cool and contemporary – and the fact that they are completely new, with no maintenance, was a huge draw.

“I desperately want to get on the property ladder and this is going to be the first step for me. Castle Vale is an up and coming area and I can’t wait to move into my own home.”

Most of the Debut properties at Castle Vale will be ready to move into in spring this year. Those who missed out on the initial phase will be invited back to the launch of the second release and Redrow is also adding new names to its extensive database.

Julia Pallister, sales director for Redrow Homes (Midlands) says: “Debut is meeting a huge demand for affordable yet stylish new homes in first class locations. There’s a glut of first time buyers searching for somewhere that will take them out of the family nest and into a home of their own.

“We have met so many people, all anxious to get on the property ladder, so we were thrilled and excited for those who were successful. We’re expecting similar joyful scenes at the launch of phase two.”

To make owning a Debut home even more affordable, Redrow is offering home buyers the chance to defer 10% of the price of their new Debut home for up to 10 years, on a fixed sum basis, which can be paid back via occasional lump sums, monthly repayments or in whole at any time.

Redrow is now taking enquiries for the launch of the second phase of Debut homes at Castle Vale. Interested home buyers can call 0845 676 0292 to register their interest or visit www.debutbyredrow.co.uk to find out more.